OctaFX | OctaFX Forex Broker
Open trading account

USD/JPY has been sidelined

From a technical perspective the outlook for USD/JPY is probably no worse than neutral.

The alignment of the 50-200-800 simple moving averages, on the 1hr chart does not show a clear trend in existence, nor the below 30 ADX at the moment is a sign of a constructive price structure. The prospect for the building of triangles, rectangles, and pennants looks to be quite realistic. Traders may opt to capitalise on such chartist patterns and their price projections.

UK: Data casting doubts over the health of economy – Investec

Research Team at Investec, note that the UK Service PMI witnessed a sizeable miss yesterday, dragging the Pound lower against its rivals as forward looking data continues to soften in major economies globally.
Read more Previous

BoJ likely to resist pressure and keep policy on hold this month - ING

James Smith, Economist at ING, suggests that BoJ is likely to resist pressure and keep policy on hold at both its meeting this week and on 30 October.
Read more Next
Start livechat